At the core, a community association whether it be a condominium, single-family homeowners association, cooperative, timeshare or commercial association, the structure is substantially the same. If the community association is properly formed, it can then manage its risk, which is the “shared common interest of the association members.” It can make enforceable rules; it can enforce those rules; it can enter into contracts; it can obtain a reserve study; it can set forth a policy to fund reserves; and, it can purchase insurance. So, who is the community association risk manager?
Download Part I of “What’s My Line? Will the Real Community Association Risk Manager Please Stand Up?” by McGowan Program Administrator’s Joel W. Meskin Esq., CIRMS to find out more about community association risk management and subscribe to our blog to be notified when we release part II.